💸Affirm: Buy Now Pays Later to the Moon💸

Equity markets rebounded firmly on Wednesday as the lower bond yields help push tech stocks higher. As expected, bond yield is starting to range again as we await the jobs data on Friday, which will set the tone for the Fed’s upcoming schedule of bond tapering.

Affirm, the buy now pays later platform, is Pika World’s favourite rising star, which jumped nearly 20% in the trading session. As we move towards the mid-cycle transition, our investment rotation has helped us sustain and grow our year-to-date return. In addition, Pika World maintains the view of a buoyant equity market as we finish the last quarter lap of the year based on our latest weekend review update.

💰The Haunting Debt Ceiling💰

The political drama continued as Congress struggled to reach a consensus over the debt ceiling. As Auntie Yellen spelt out, the country will likely run out of cash in mid-October, raising the odds of default.

Such a scene is not uncommon, as the fight in 2011 led to a downgrade of debt ratings. While a default is unimaginable or the world’s reserve currency country, we will appreciate its consequences, such as the wide delay of Federal payouts that will ripple effect on the economy.

Pika World will be watching the development closely as in our prior episode; it impacts the equity market in the short term and swiftly recovered upon passing a resolution on the debt ceiling fight.

📡Palantir: Another Big Contract Win📡

The stock is trading much higher in the early trading session after it announced winning an $823 million program to provide data and analytics products to the US Army. Essentially, the company will be setting up the Gotham software platform for Army Intelligence users.

While Palantir has been winning big contracts for government works, investors have long been concerned with the disproportionate considerable weightage to government jobs compared to commercial agreements.

Pika World continues to see bright prospects for the company as it develops its niche market.

📺Netflix: Squid Game Fever📺

Despite suffering a pullback during the week, the stocks have some support on Tuesday as it hits an intraday record of $640.39. The launch of the “Squid Game”, a Korean based survival thriller drama, had hit mega-success with interest globally, especially in social media.

On a survey, Netflix has been seen as a leading streaming media preferred by teenagers, followed by YouTube and other channels such as Walt Disney. Pika World will be keenly watching its third quarter result on 19 October, expecting earnings of $2.55 per share.

On the backdrop of a rosy drama vibe is also the intense negotiation on demands by film production members, including higher pay for workers working on streaming projects.

📮What’s on the Menu Today?

At 8.30 pm, we will welcome the Initial Jobless Claims data, which is expected to drop marginally to 348K from 362K.

It is 7 October, Thursday, 7.35 am in Singapore and 7.35 pm in New York. It has been a volatile but profitable week for Pika friends and we wish you a productive day ahead!